SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16098 \ March 30, 1999
SECURITIES AND EXCHANGE COMMISSION v. GEORGE BADGER, ET AL.,
2:97CV0963K
The Securities and Exchange Commission announced that
it has instituted public administrative proceedings pursuant
to Section 21C of the Securities Exchange Act of 1934
("Exchange Act") against Golf Ventures, Inc. ("GVI").
Simultaneously with the institution of the proceedings, the
Commission accepted a settlement offer from GVI wherein GVI
consented, without admitting or denying the Commission's
findings, to the entry of an order directing GVI to cease
and desist from committing or causing any violation, and
from committing or causing any future violation of the
antifraud and corporate reporting provisions of the federal
securities laws (Sections 10(b) and 13(a) of the Securities
Exchange Act, and Rules 10b-5, 12b-20, 13a-1 and 13a-13).
The Commission found that GVI violated these provisions by
knowingly making materially false and misleading statements
in documents filed with the Commission and other written
materials distributed by GVI to investors during the period
from September 1996 through July 1997.
In conjunction with the issuance of the Order, the
Commission and GVI stipulated to the dismissal, without
prejudice, of the Commissionís claims against GVI in a civil
injunctive action filed by the Commission in the District of
Utah in December 1997 against GVI and thirteen other
defendants. (See 34-41221, File No. 3-9856)